Trump holding Pennsylvania rally to celebrate ‘partial ownership’ deal for Japan-based Nippon Steel to invest in U.S. Steel

President Donald Trump maintains a gathering in Pennsylvania on Friday to celebrate the details of a deal for Japan -based Nippon Steel to invest in the United States, which he says will keep the famous US steel maker under the control of the United States.

Although Trump initially pledged to prevent the Japanese steel maker’s offer to buy the United States Steel, headquartered in Pittsburg, he changed the path and announced an agreement last week for what he described as “partial ownership” by Nippon. However, it is not clear, if the deal that helped its administration has been completed or how the ownership is organized.

Trump stressed that the deal will maintain American control over the floors company, which is seen as a political symbol and an important issue of the supply chain in the country, and industries such as car manufacturing and national security.

Trump, who has been keen to conclude deals and announce new investments in the United States since the restoration of the White House, is trying to satisfy voters, including blue -collar workers, who elected him and called for the protection of American manufacturing.

The United States has publicly not transferred any details of a deal that was renewed for investors. Nippon Steel issued a statement approved by the proposed “partnership”, but also did not reveal the terms of the arrangement.

The government and federal lawmakers who have been briefed on the matter describe a deal in which the American steel Nippon will buy and spend billions of billions on US steel facilities in Pennsylvania, Indiana, Alabama, Arkansas and Minnesota. The company will be supervised by an executive suite and a council that is often consisting of Americans and protected by the US government’s veto force in the form of a “golden share”.

In the absence of clear details or confirmation from the companies concerned, the United Solid Workers Union, which has long opposed the deal, asked this week whether the new arrangement makes “any meaningful change” from the initial proposal.

“Nippon has constantly maintained that it will invest only in the US steel facilities if it owns the company directly,” Al -Ittihad said in a statement. “We have not seen anything in the reports in the past few days, indicating that Nippon has returned from this situation.”

The White House did not provide any new details on Thursday. The United States did not respond to steel to the messages seeking information. Nippon Steel also refused to comment.

Regardless of the conditions, the issue is of great importance for Trump, who said last year repeatedly that he would prevent the deal and foreign ownership of the American steel, as former President Joe Biden did.

Trump promised during the campaign to make the activation of American manufacturing a priority from his second term in office. The fate of the United States, which was once the largest company in the world, could become a political responsibility in the renewed renewal elections for its Republican party in Pennsylvania, and other fighting countries that depend on industrial manufacturing.

Trump said on Sunday that he would not agree to the deal if the United States did not remain steel under the control of the United States and said he would keep his headquarters in Pittsburg.

In an interview with Fox News on Wednesday, Republican Pennsylvania, Dan Miwad, described the arrangement “accurately investment and strategic partnership where he owns America, the American run and is still in America.”

However, Meuser said he did not see the deal and added that he was “still organized.”

The Republican senator in Pennsylvania, David McCromic, came in favor of the plan, describing it as a “wonderful” for local steel industry, Pennsylvania, national security and US Steel employees. A group of Senate members from the two parties, which the then Corc Cormaker, joined the first proposed purchase of Nippon Steel for USEL for $ 14.9 billion after announcing it in late 2023.

In recent days, Trump and other American officials have begun describing the new Nippon Steel commitment to investing $ 14 billion in addition to his offer of $ 14.9 billion, including building a new electric furnace factory somewhere in the United States in the United States

Another Senator in Pennsylvania, Democrat John Vitirman – who lives across the street from the United States from Edgar Thomson Steel Works Furnace – did not explicitly support the new proposal. But he said that he helped confuse the original Nippon Steel offer until “Nippon has an additional $ 14 billion.”

McCromic said on Tuesday on Fox News that the planned “golden share” of the United States reaches three members of the Board of Directors accredited by the US government, which will mainly ensure that the American steel can only make decisions that will be in the interest of the United States.

State governor Josh Shapiro, a democratic, has been seen as a possible presidential candidate, to a large extent to support a deal publicly, but said at a press conference this week that he was “optimistic with caution” about the arrangement.

In an interview published on Thursday in the conservative Washington, Shapiro said: “The deal has improved. The prospects for the future of the steel industry have become better.”

“Ecstasy” about the deal, although he admitted some unknown details. He said he would provide thousands of jobs for his community.

He said: “It is similar to a violation of the steel from Pittsburg.”

This story was originally shown on Fortune.com

2025-05-30 11:52:00